Colorado § 26-2-1004 Individual development account program - rules

Colorado Statutes

§ 26-2-1004 — Individual development account program - rules

Colorado·Title 26 Human·Art. Public Assistance

(1)The IDA program shall provide that eligible individuals who establish individual development accounts, as set forth in section 26-2-1005, shall receive the benefit of matching moneys payable directly to the service provider at the time of the eligible individual's expenditure of the moneys in his or her individual development account for any of the following purposes:

(a)Securing postsecondary education, including but not limited to community college courses, courses at a four-year college or university, or post-college, graduate courses for either the individual or the individual's dependent;

(b)Securing postsecondary occupational training, including but not limited to vocational or trade school training for either the individual or the individual's dependent;

(c)Purchas

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(1) The IDA
program shall provide that eligible individuals who establish individual development
accounts, as set forth in section 26-2-1005, shall receive the benefit of matching
moneys payable directly to the service provider at the time of the eligible
individual's expenditure of the moneys in his or her individual development account
for any of the following purposes:

(a) Securing postsecondary education, including but not limited to
community college courses, courses at a four-year college or university, or post-college, graduate courses for either the individual or the individual's dependent;

(b) Securing postsecondary occupational training, including but not limited
to vocational or trade school training for either the individual or the individual's
dependent;

(c) Purchasing a home for the first time, either individually or with another
family member; or

(d) Business capitalization.

(2) In addition to the purposes set forth in subsection (1) of this section, an
eligible individual may expend up to ten percent of the total moneys from his or her
individual development account for supportive counseling, mentoring, tutoring, or
other related services as provided by sponsoring organizations and as approved by
such individual development account holders.

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